Medical Office in Outpatient
For Sale
$595,000
225 Abraham Flexner Way, Louisville, KY 40202
Medical office space within UofL Health - Abraham Flexner Center.
Property Size3,005 SF
Price / SF$198
Days on Market725
Property Features for 225 Abraham Flexner Way
General Information
Standard status
Active
Size
3,005 SF
Property subtype
Office
Zoning
C 3
Amenities
Water
Sewer
Natural Gas
Waterfront
Building Details
Year Built
1985
Listing Agency:
Caliber Commercial Properties
Listed By:
David Barker · License #61476
(502) 365-5009
Source:
Kcrea.resimplifi
Added: Oct 24, 2024
Changed: Oct 1
Last Checked: Oct 16 at 5:44AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Caliber Commercial Properties
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This medical office is located within the UofL Health - Abraham Flexner Outpatient Care Center. The 3,005 square foot space was previously configured as an oral surgery suite. The layout includes a waiting room, two reception areas, four operatories, five offices, three surgery rooms, a recovery room, a lounge/break area, an X-ray room, a lab, and a private restroom.
Key Highlights
- Located in the UofL Health - Abraham Flexner Outpatient Care Center.
- Previously used as an oral surgery suite.
- Features 4 operatories and 3 surgery rooms.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,945
Cap Rate
6.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$778,900
$778.9K
Cap Rate 7%
$556,357
$556.4K
Cap Rate 9%
$432,722
$432.7K
Market Conditions
NOI Build-Up for 3,005 SF
Gross rent
$72.1K $24.00/SF
− Vacancy
−$7.2K −$2.40/SF
EGI
$64.9K $21.60/SF
− OpEx
−$26.0K −$8.64/SF
NOI
$38.9K $12.96/SF
Area
Louisville, KY
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$778,900
Cap Rate 7%
$556,357
Cap Rate 9%
$432,722
Alternative Uses
Best Use
Healthcare Medical
$556.4K
$486.8K – $649.1K
NOI $38,945 @ 7.0% cap · market cap 6.55%
Second Best
Office B
$554.4K
$485.1K – $646.8K
NOI $38,810 @ 7.0% cap · market cap 6.52%
Theoretical Best
Office A
$778.9K
$681.5K – $908.7K
NOI $54,523 @ 7.0% cap · market cap 9.16%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
10,248
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 40202, KY
7,179
Population
4,242
Households
1.7
Avg Household Size
39
Median Age
27%
College-Educated
83%
High-School Grad
1.6 sq mi
ZIP Area
4,487
Density / Sq Mi
$29,382
Median Household Income
$33,205
Median Earnings
$881
Median Rent
$340,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Louisville, KY
Similar Off Market Nearby
- Blue Cross Animal Hospital — 827 E Broadway, Louisville, KY 40204
- The Downtown Animal Hospital — 120 N Clay St, Louisville, KY 40202
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office space within UofL Health - Abraham Flexner Center.
Where is this medical office space located?
The property is located at 225 Abraham Flexner Way Louisville, KY.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Located in the UofL Health - Abraham Flexner Outpatient Care Center.; Previously used as an oral surgery suite.; Features **4 operatories and 3 surgery rooms**.
